Deadline to bid in the 2023 Pricing Survey is Monday, September 25. It’s easy to participate by downloading the bid package and submitting your bid. Your participation not only informs your own pricing but also helps the industry get a better handle on pricing for custom woodwork.

Few things in woodworking raise more doubts than when it comes to pricing custom work. Is your price high enough to cover your costs and ensure a tidy profit? Is it low enough to win over your customer?

That’s the age-old challenge of pricing on which the FDMC Pricing Survey tries to shed some light. It’s not a test of your costing skill or estimating prowess. It’s a real-world examination of everything that goes into pricing custom woodwork to consider both profitability and marketability.

This year marks 25 years of the pricing survey. The 2023 survey is sponsored by Lockdowel.

How it works
Each survey is founded on collecting projects from original bidders who provide the original specifications. Then that information is shared with our audience and shops across North America are invited to “bid” on the projects, submitting not only a total price but also break-out data on such things as materials, construction hours, shop rates, installation, and finishing. 

We also ask for information on software and CNC use, years in business, design fees, and the like, all designed to give a better picture of the bidders and their bids but still keeping all bidders anonymous except for their state or province. That encourages honest bidding but still gives some regional information for the survey.

Let’s look at some of the projects in this year’s survey.

Reading nook
We have rarely had commercial or institutional furniture projects in the survey, but this year includes a Reading Nook project designed for public library use. It combines a shelf unit with a small upholstered area that is enclosed as has a roof over it. Just perfect for curling up to read a book. It’s the kind of project that is attractive to a wide range of shops even if they aren’t regularly doing commercial furnishings or upholstered work.

White oak Shaker kitchen
Two big trends today are increasing use of oak — usually rift or quartersawn — and the ubiquitous Shaker style with flat panel doors and clean design. This kitchen combines those trends in a compact but somewhat complex design.

Birch mantle
Some architectural millwork projects we’ve run in the survey in the past had been too larch in scope to attract a lot of bidders. This project is a basic fireplace mantle in birch that offers a classic built-in look well within the reach of most shops’ capabilities.

Crab leg coffee table
This table combines clean lines and simple curves in a coffee table that fits well with popular Mid-Century Modern style. Even with something as simple as this, we have found wide variations in pricing. What would you charge?

Display cabinet
This cabinet illustrates the classic challenges of pricing custom work. It is a compact display cabinet that can be hung on the wall or be set on a stand, high table, or other cabinet. It’s relatively small but it has fussy details that complicate construction and pricing. It features highly figured bird’s-eye maple, knife hinges, and two small drawers with hand-cut dovetails. 

Why participate?
The obvious question posed by the survey is “Why take the time to bid projects I’ll never get paid for?” The answer is because you’ll learn a lot about pricing and be better able to price work profitably in the future. You’ll also be helping the whole industry to do a better job of pricing. That means fewer low-ball prices to compete against, fewer unprofitable jobs, and more realistic customer expectations across the board.

It’s easy to join the survey. Just go to woodworkingnetwork.com/pricing-survey to directly download the bid package. Or you can phone me at 203-512-5661 or email [email protected]. But don’t delay. All bids are due in by September 25 so the results can be published in the November issue of FDMC.